Noida based Goodwill Hospital has withdrawn it's IPO due to poor investor reponse.

The issue which was open from December 30, 2011 to January 09, 2012 was subscribed 0.01 times till January 06, 2011, as per the NSE website. QIBs, FIIs and DIIs did not bid at all. Out of a total of 22015 bids received, 9730 bids were by the non-institutional investors and 12285 bids were from the retail investors.

Goodwill Hospital had planned to raise upto R62Cr through 100% book-building process in the price band of R175-185 with a face value of 10 each. It also offered one detachable warrant per equity share. The funds were to be used to set up a diagonostic centre in Faridabad, to establish 6 polyclinics and to repay loans.

Goodwill Hospital runs a multi speciality hospital of 22 beds in Noida under the brand Ojjus Medicare with core focus areas of neurology and neuro surgery, cardiology and cardiac surgery and orthopeadics with emphasison joint replacements and sports injury.

Goodwill Hospital was established in 2000 to provide treatment for regular ailments. In Dec 2007, Ojjus Medicare Pvt Ltd took over the management and it was reorganized as a multi specialty hospital. Currently, Ojjus holds entire 100% stake in the company.

Also Read: Noida-Based Goodwill Hospital Files For IPO

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